Sihuan Pharmaceutical IPO Said to Seek $700 Million

Morgan Stanley and UBS AG are managing the sale, said the
people, who declined to be identified because the information
was private. Haikou, China-based Sihuan Pharmaceutical, which
delisted from Singapore’s stock exchange in December, plans to
start trading in Hong Kong in late October or early November,
the people said.

Rachel Chan, a Sihuan spokeswoman in Hong Kong, declined to
comment. Nick Footitt, a Hong Kong-based spokesman for Morgan
Stanley, and Chris Cockerill, a UBS spokesman in Hong Kong, also
declined to comment.

Sihuan supplies drugs to hospitals across China through a
sales network which covers almost every province in the country,
according to the company’s website. Its drugs are used for the
cardio-cerebral vascular system and the nervous system, the
website says.

At least two other medical companies from mainland China,
where demands are rising for drugs and medical services, are
seeking to list in Hong Kong. China Medical System Holdings Ltd.
is seeking about HK$1 billion ($129 million) in its initial sale,
according to the prospectus for the transaction. The Shenzhen-based provider of pharmaceutical services plans to start trading
on Sept. 28, the prospectus said.

MicroPort Scientific Corp. (853), which makes equipment for
keyhole surgery, raised about HK$1.54 billion selling shares at
the top of its offer range, two people with knowledge of the
transaction said yesterday. The Shanghai-based producer of
coronary stents plans to start trading on Sept. 24, according to
its prospectus.